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Chrysostomos Nicolaou

"An extremely strong litigator" by The Legal 500 EMEA, 2017

Chrysostomos Nicolaou

Partner - Head of Litigation

  • Phone: +357 25 871599
  • Law Degree (Athens University, Greece), 1992
  • Admitted to the Cyprus Bar, 1993
  • ADR Group Accredited Civil & Commercial Mediator, 2014

 

  • Cyprus Bar Association
  • Listed in the Cyprus Minister of Justice and Order Registrs of Commercial & Civil Mediators
  • Handling the application of Limassol’s ex-mayor, regarding the re-counting of the latest election votes.  The case has attracted the public’s interest and massive media attention with the he next hearing set in September 2017.
  • Advising a major Russian banking on the recovery of over USD 1.5 billion in assets by a major Russian group through its Cypriot entities through liquidation and other out of Court enforcement measures in order to ensure asset recoveries for debt repayment. This project is significant due to the large amount of assets to be recovered as well as the necessity to act swiftly in order to secure the creditor.
  • Advising a local hotel group in their dispute with a major European Tour Operator over tourist allocation agreements. Following termination of the Agreement, the Tour Operators have sought interim relief in Cyprus Courts. Our firm has been advising the hoteliers to successfully defend their case against the Tour Operator and to seek compensation for non-performance.
  • Handling over 50 cases involving the registration, recognition and enforcement of Russian judgments and arbitral awards obtained by one of the leading and largest banks of Russia against various companies and individuals and offering on-going assistance and advice on all cross-border matters arising within this framework. The value of each individual case ranges between USD 10 million to USD 120 million and the total aggregate amount is in excess of USD 3 billion. We were able to register 13 arbitral awards in 2015 and further 32 in 2016. Further 9 Awards were registered in 2017. 
  • Advising and representing a secured creditor under a floating charge for the recovery of the amount of USD 120 million arising out of loans granted to the debtor company. We have initiated separate proceedings for the recognition and enforcement of arbitral awards issued by the London Court of International Arbitration (LCIA) in the UK in favour of the Client and have successfully obtained a judgement for the registration of a floating charge against the debtor company at the Charges Register of the company kept by the Registrar of Companies and Official Receiver in Cyprus. 
  • Representing a company incorporated in the BVI and its ultimate beneficial owner, contracting parties in a joint venture involving the construction of high profile property in Moscow. The client suffered loss and damage as it sold 50% of its share capital held in the joint venture at a lesser amount than the real value of the shares, allegedly due to inaccurate and false representations made by the Respondents. We have successfully applied and obtained interim orders of the Court for freezing the assets of the Respondents located in Cyprus and any sums which are held in any account of the Respondents in any bank institution abroad for the amount of USD 90 million.